Kraft Profit Climbs, Forecasts Growth This Year

Kraft (NYSE:KFT) revealed a 54% improvement in fourth-quarter profit on Tuesday as it continues to cut costs and focus on profitable brands ahead of its planned split.

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The Northfield, Ill.-based company, which is preparing separate into two companies later this year -- North American grocery and global snacks -- expects to grow revenue by about 5% and improve earnings by 9% in 2012.

As part of the restructure, it will take a one-time $1.6 billion to $1.8 billion hit later this year.

The company, whose snack business makes Cadbury chocolate and Oreo cookies, and grocery business makes Maxwell House coffee and Oscar Mayer hot dogs, earned $830 million, or 47 cents a share, compared with a year-earlier $540 million, or 31 cents.